It seems like there’s quite a bit of confusion surrounding Nigeria’s central bank and its stance on cryptocurrencies. The initial reported directive, which allegedly required financial institutions to identify and cease transactions with certain cryptocurrency platforms, was denied by the central bank. However, the denial was then deleted and later reissued via X.
The reported directive, if true, indicates a significant move by the central bank to crack down on cryptocurrency transactions in Nigeria. It includes instructions for financial institutions to halt dealings with platforms like Bybit, KuCoin, OKX, and Binance, and warns of severe sanctions for breaches.
This development adds to the ongoing tension between Binance and the Nigerian government. Accusations of currency speculation and subsequent actions against Binance executives have drawn international attention to the situation.
The conflicting statements and actions from the central bank only add to the uncertainty surrounding cryptocurrency regulation in Nigeria. It’s a situation worth monitoring, especially considering the growing popularity of cryptocurrencies in the region and their potential impact on the financial landscape.
